Chainlink (LINK): How Does the Chart Look Wednesday?

Wednesday, December 01, 2021 06:14 AM | InvestorsObserver Analysts

Chainlink receives a strong short-term technical ranking of 68 from InvestorsObserver data analysis. The proprietary ranking system focuses on the recent trading patters over the past month to determine the strength of its short-term technicals. LINK has a superior recent technical analysis than 68% of tokens based on these trading metrics. Investors primarily focused on shorter term investment strategies will find this technical analysis most relevant to their goals when determining whether to invest in a particular crypto.

InvestorsObserver is giving Chainlink a 68 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Chainlink!

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Trading Analysis

LINK is currently $3.36 (14.67%) above its 30-day low of $22.92 and -$11.87 (-31.12%) below its 30-day high of $38.16. Additionally, LINK is under its average price of $29.85 over the past month of trading with its current price of $26.29. Overall, the recent trading history of Chainlink suggest that traders are currently bullish on the token. Chainlink's market cap of $12,276,481,475.33 is relatively high for a token. Chainlink's market value is relatively high since the largest 100 cryptos have a market cap above $1 billion and LINK meets that criteria. Meanwhile, LINK's average volume is high with $6,338,631,269.92 worth of the token traded over an average 24 hour period. The cryptos volume is relatively high due to the most traded 100 cryptos typically having $100 million worth of the crypto traded over a 24 hour period. Over the last 24 hours, LINK's volume is below its usual with $1,016,284,249.67 exchanged. Chainlink's subclass Smart Contracts: A computer program designed to automatically execute when predetermined conditions are satisfied. Typically used to execute transactions quickly and automatically, with terms written directly into lines of code.

Summary

Chainlink's trading over the past 30 days leads to its a strong short-term technical score due to recent price movement suggesting more bullish signals for traders on the token in the near future. Click Here to get the full Report on Chainlink (LINK).